Home Cryptocurrency News Altcoin ViaBTC Launches Ethereum Mining Pool

ViaBTC Launches Ethereum Mining Pool

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Even though most of the people focus on the current Bitcoin price action, there are other developments to take note of. ViaBTC has launched an Ethereum mining pool, for example. That is a pretty interesting decision, to say the least. The company is best-known for their Bitcoin and Bitcoin Cash mining. It doesn’t appear as if the Ethereum mining will become part of their cloud mining contracts, though. Having more mining pools for specific currencies can only be considered to be a good thing, that much certain.

Ethereum mining has become a very profitable business in 2017.This is mainly due to the Ether price rising quite a bit. Additionally, a few new GPUs have launched, all of which can mine Ethereum without too many problems. With so many new people joining this ecosystem, there’s a growing need for new mining pools. Cryptocurrency is all about decentralization, and the mining aspect should be no different.

Mining Ethereum With ViaBTC

This is where ViaBTC comes into the picture. More specifically, the Chinese company launched an ETH mining pool this week. They accept users from all over the world. It will be interesting to see how many people will switch over to this new pool in the future. After all, without sufficient hashrate, it will not be profitable to choose this option. Then again, no one wants to see one server control too much hashpower either. An interesting trade-off to contend with, that much is rather evident.  

Users who choose ViaBTC will be able to choose three different payment methods. There is an option for solo mining, which is always appreciated. Group miners can be paid through PPS+ or PPLNS models. It is good to see different payout options in this regard. After all, not all models work for all miners. Giving ViaBTC users a choice is never a bad thing in this regard. It will be interesting to see which option becomes the most popular one in the end.

It is doubtful this new pool will spur another major increase in GPU mining, though. Especially with the markets unstable and oversold right now, making any major investments is not advised. Having another professional pool provider on board will be beneficial to Ethereum in the end, though. More pools mean more decentralization and better network support in general. An interesting future lies ahead for this altcoin. Whether or not ViaBTC will play a big part in that future, remains to be determined.

Header image courtesy of Shutterstock

About JP Buntinx

JP is a freelance copywriter and SEO writer who is passionate about various topics. The majority of his work focuses on Bitcoin, blockchain, and financial technology. He is contributing to major news sites all over the world, including NewsBTC, The Merkle, Samsung Insights, and TransferGo.

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